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The Series D values the U.S. company at US$5.1 billion. Other undisclosed investors also participated in the round. The company plans to use the money to expand its business globally, and for research and development. (The Logic)
Talking point: Whop offers a platform for customers to sell digital products, such as online courses, software and memberships, and handles payments and advertising for businesses. The company is positioning itself as a tool for people earning money online, particularly as “AI is calling traditional career paths into question.” Sequoia’s Doug Leone told Axios that though some might see Whop as a Shopify rival (and that Whop’s founders used to be Shopify vendors), the Ottawa e-commerce giant is more focused on bigger businesses. Whop says about 25,000 businesses generate US$550 million in monthly sales on its platform. Its valuation has more than tripled since February, when Tether invested US$200 million at a US$1.6-billion valuation.
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